Key Takeaways
- • U.S. spot bitcoin ETFs recorded net outflows of $244.1 million on Thursday, October 8, per Farside Investors, extending a $484.9 million outflow the previous day to roughly $729 million over two sessions.
- • Fidelity's FBTC accounted for most of Thursday's redemptions, losing $197.1 million, while BlackRock's IBIT saw only a $5.5 million outflow after losing $207.7 million on Wednesday.
- • Spot ether ETFs posted $72.5 million in net outflows, led by BlackRock's ETHA at $71.1 million, marking an eighth consecutive day of withdrawals totaling about $641.3 million since September 29.
- • Bitcoin funds lost about $700 million for the week through Thursday, and Solana ETFs recorded a further $3.5 million in net withdrawals.
- • Flow data points to active de-risking by ETF holders rather than a broad exit, with redemptions concentrated in a small number of products.
Summary
U.S. spot bitcoin exchange-traded funds recorded net outflows of $244.1 million on Thursday, October 8, according to data from Farside Investors. The session followed a $484.9 million outflow on Wednesday, bringing two-day withdrawals to roughly $729 million and reversing a $118.8 million inflow on Tuesday. For the week through Thursday, bitcoin funds had lost about $700 million, according to the same reporting.
Redemptions were concentrated in a few products. Fidelity's Wise Origin Bitcoin Fund (FBTC) accounted for most of Thursday's outflows, losing $197.1 million. ARK 21Shares' ARKB shed $20.3 million, Bitwise's BITB lost $17.7 million and Grayscale's GBTC declined $8.2 million. BlackRock's iShares Bitcoin Trust (IBIT) recorded a comparatively modest $5.5 million outflow, after losing $207.7 million a day earlier. Franklin Templeton's EZBC was the only bitcoin fund with a meaningful inflow, at $4.7 million.
Ether products showed a similar pattern. Spot ether ETFs posted net outflows of $72.5 million on Thursday, led by BlackRock's ETHA at $71.1 million, according to Farside figures compiled by SatoshiNakamoto.TV. The session marked an eighth straight day of ether fund outflows, totaling about $641.3 million since September 29. Some outlets noted that ether figures were still being updated on Friday morning, so the final tally may change. Separately, FinanceFeeds reported that Solana ETFs recorded a further $3.5 million in net withdrawals.
The flow data suggests active de-risking by ETF holders rather than a broad exit from the asset class, given that redemptions were concentrated in a handful of products on a day-to-day basis. For crypto hedge funds and allocators using ETFs as a liquid sleeve, the flows provide a real-time gauge of sentiment as digital asset prices have weakened this week.
Redemptions were concentrated in a few products. Fidelity's Wise Origin Bitcoin Fund (FBTC) accounted for most of Thursday's outflows, losing $197.1 million. ARK 21Shares' ARKB shed $20.3 million, Bitwise's BITB lost $17.7 million and Grayscale's GBTC declined $8.2 million. BlackRock's iShares Bitcoin Trust (IBIT) recorded a comparatively modest $5.5 million outflow, after losing $207.7 million a day earlier. Franklin Templeton's EZBC was the only bitcoin fund with a meaningful inflow, at $4.7 million.
Ether products showed a similar pattern. Spot ether ETFs posted net outflows of $72.5 million on Thursday, led by BlackRock's ETHA at $71.1 million, according to Farside figures compiled by SatoshiNakamoto.TV. The session marked an eighth straight day of ether fund outflows, totaling about $641.3 million since September 29. Some outlets noted that ether figures were still being updated on Friday morning, so the final tally may change. Separately, FinanceFeeds reported that Solana ETFs recorded a further $3.5 million in net withdrawals.
The flow data suggests active de-risking by ETF holders rather than a broad exit from the asset class, given that redemptions were concentrated in a handful of products on a day-to-day basis. For crypto hedge funds and allocators using ETFs as a liquid sleeve, the flows provide a real-time gauge of sentiment as digital asset prices have weakened this week.
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